As you may know, I am a staunch believer that there should be some form of regulation introduced in respect of SSAS – my preference would be for all SSASs to require a professional trustee to ensure that the governance, understanding and administration of each SSAS is undertaken correctly ensuring legal compliance and offering the best platform for savers to succeed in their financial goals.
Nikhil Rathi has been reappointed as chief executive of the Financial Conduct Authority for a second five-year term and will be CEO until 2030.
A coalition of consumer groups has sent an open letter to MPs and the FCA urging the regulator to abandon its plans to delete most emails automatically after a year.
The House of Lords has called on the FCA to halt its plans to push forward with 'naming and shaming' firms facing investigations.
In late December, Prime Minister Sir Keir Starmer tasked 10 regulators with removing ‘barriers to growth’ in order to attach the jump leads to the UK economy. On 16 January, the FCA wrote a letter to the Government to outline their plans to support the growth agenda.
Financial advisers have broadly welcomed the FCA’s new proposals for targeted support for pension savers but have warned more clarity is needed if they are to succeed.
The Pensions Regulator (TPR) is to shift to a more prudential-style of regulation to protect savers from systemic risk.
A Shropshire-based pension adviser - an appointed rep of failed firm Tenet Connect Limited - has itself been declared as failed by the Financial Services Compensation Scheme, opening the door to compensation claims.
The Financial Conduct Authority is ‘up for’ taking on greater risk and its more ‘radical’ reforms are ready ‘for take-off’ according to chief executive Nikhil Rathi.
The Financial Conduct Authority is changing its enforcement approach as it aims to act faster and with more transparency.